LÉVIS, QC, March 13, 2014 /CNW Telbec/ - Today, Quebec Premier, Pauline
Marois announced the hiring of the 850th employee at Chantier Davie Canada Inc. ('Davie'). Together with the CEO
of Davie Alan Bowen, and director Alex Vicefield, they spoke of the
major achievements that took place over the past year; further
strengthening Davie's position as the only Canadian shipbuilder able to
produce large vessels. Today Davie has more employees than any other
shipyard in Canada.

Speaking at the shipyard's cutting-edge facility, the Premier welcomed
Davie's 850 employees. "Quebec is open for business," the Premier said,
"the Davie story shows that in Quebec, private industry and labor are
working together to create manufacturing jobs and compete in global
markets, exporting high-technology, capital-intensive equipment."

According to CEO Alan Bowen, "Davie today is Canada's largest, most
modern and highest capacity shipbuilder as well as the largest employer
in the industry. We are today in full production mode and are competing
in the global industry to build some of the world's most advanced
vessels. We are Canada's global shipbuilder". Alex Vicefield added that
"Our focus is on specialized vessels which operate in harsh
environments using specialized propulsion and manoeuvring systems; with
multiple levels of redundancy for mission-critical applications. We are
building today two ferries using cutting-edge technology built to
withstand harsh ice conditions."

Over the past year, Davie has experienced one of the most impressive
turnarounds in Canadian manufacturing history. Under the leadership of
a world-class management team with several decades of international and
Canadian shipbuilding experience, the company has been able to secure
over $300M in private financing, invested $10M in new capital into
modernizing the yard, created 850 new jobs, and signed a 5-year
collective agreement with its labor unions.

The substantial investment made means that today Davie is building five
advanced vessels: three high-technology offshore oil exploration
vessels for export to Norwegian clients and two liquefied natural gas
(LNG) powered ferries for the Société des Traversiers du Québec (STQ).
Despite the major programs underway, Davie's vast size and facilities
means that it is still only operating at 50% capacity and is able to
take on new large projects.

NOTES TO EDITORS:

Chantier Davie Canada Inc.
Davie is Canada's largest and highest capacity shipyard and industrial
fabricator. Davie provides a broad range of products and services to
industries from offshore oil & gas to defense. Certified to ISO
9001:2008, Davie leverages its high capacity fabrication facilities
with its advanced project management and engineering capability to
manage end-to-end construction projects and provide best-practice
throughlife solutions to its corporate and governmental clients.